How to dig yourself out of credit card debt

Credit card debt is a huge burden for many people in Los Angeles. For some, a sudden job loss or medical emergency drained their savings, forcing them to charge needed expenses. Others simply got in over their heads, and need help getting a handle on their debt.

An attorney may be able to help people in this situation reduce or consolidate their credit card debt. For those trying to pay off their bills on their own, here are some tips, as provided by WFMY-TV:

• Set a budget. Figure out how much you spend on necessities like food and housing, and of your debts, including balances, minimum payments and interest rates.
• Pay at least the monthly minimum on all your cards. For the card with the lowest balance, pay at least twice the minimum until it is paid off.
• Make sure to pay on time. To avoid possibly getting hit with a late fee, pay your bills when they come in, instead of waiting until the due date.
• Though it may take a while to get out from under your debt, don’t lose hope. But if you are being harassed by debt collectors, consult with an attorney for help.

Besides being a financial drag, credit card debt problems can also significantly hurt your credit score. The good news is that paying your bills on time consistently and reducing your debt can improve your score. Then you hopefully can begin relying less on your credit cards, so that this need not happen again.